Joby Aviation, Inc. $JOBY Shares Sold by Janney Montgomery Scott LLC

Janney Montgomery Scott LLC decreased its position in shares of Joby Aviation, Inc. (NYSE:JOBY) by 3.8% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 204,045 shares of the company’s stock after selling 8,022 shares during the quarter. Janney Montgomery Scott LLC’s holdings in Joby Aviation were worth $2,153,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently modified their holdings of JOBY. GAMMA Investing LLC raised its stake in shares of Joby Aviation by 773.9% during the first quarter. GAMMA Investing LLC now owns 5,663 shares of the company’s stock valued at $34,000 after purchasing an additional 5,015 shares in the last quarter. Strs Ohio bought a new stake in shares of Joby Aviation during the first quarter valued at about $37,000. Decker Retirement Planning Inc. raised its stake in shares of Joby Aviation by 250.0% during the first quarter. Decker Retirement Planning Inc. now owns 7,000 shares of the company’s stock valued at $42,000 after purchasing an additional 5,000 shares in the last quarter. Hollencrest Capital Management bought a new stake in shares of Joby Aviation during the first quarter valued at about $43,000. Finally, Cassaday & Co Wealth Management LLC bought a new stake in shares of Joby Aviation during the first quarter valued at about $60,000. Institutional investors and hedge funds own 52.85% of the company’s stock.

Joby Aviation Stock Down 4.9%

Shares of JOBY stock opened at $16.30 on Friday. Joby Aviation, Inc. has a 12 month low of $4.80 and a 12 month high of $20.95. The business’s 50 day moving average is $15.79 and its two-hundred day moving average is $11.34. The company has a market cap of $13.96 billion, a PE ratio of -15.24 and a beta of 2.52.

Joby Aviation (NYSE:JOBY) last announced its quarterly earnings data on Wednesday, August 6th. The company reported ($0.24) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.18) by ($0.06). The firm had revenue of $0.02 million for the quarter, compared to analyst estimates of $0.05 million. During the same quarter last year, the firm posted ($0.18) EPS. The company’s revenue was down 94.6% compared to the same quarter last year. As a group, equities analysts expect that Joby Aviation, Inc. will post -0.69 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages recently weighed in on JOBY. Morgan Stanley lifted their price objective on shares of Joby Aviation from $7.00 to $15.00 and gave the company an “equal weight” rating in a research note on Thursday. Cantor Fitzgerald restated a “neutral” rating and set a $9.00 price objective on shares of Joby Aviation in a research note on Monday, June 23rd. Wall Street Zen cut shares of Joby Aviation from a “hold” rating to a “sell” rating in a research report on Saturday, August 2nd. Weiss Ratings reiterated a “sell (d-)” rating on shares of Joby Aviation in a research report on Wednesday. Finally, Canaccord Genuity Group cut shares of Joby Aviation from a “buy” rating to a “hold” rating and boosted their price target for the stock from $12.00 to $17.00 in a research report on Thursday, August 7th. One equities research analyst has rated the stock with a Buy rating, four have given a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat, Joby Aviation currently has a consensus rating of “Reduce” and an average target price of $11.83.

Insider Transactions at Joby Aviation

In other news, insider Bonny W. Simi sold 8,272 shares of the business’s stock in a transaction dated Thursday, October 2nd. The stock was sold at an average price of $16.78, for a total transaction of $138,804.16. Following the completion of the transaction, the insider directly owned 219,206 shares in the company, valued at approximately $3,678,276.68. The trade was a 3.64% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Eric Allison sold 6,715 shares of the business’s stock in a transaction dated Thursday, October 2nd. The stock was sold at an average price of $16.78, for a total value of $112,677.70. Following the transaction, the insider owned 666,416 shares of the company’s stock, valued at $11,182,460.48. The trade was a 1.00% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 2,330,881 shares of company stock valued at $33,997,315. 28.50% of the stock is currently owned by insiders.

Joby Aviation Profile

Joby Aviation, Inc, a vertically integrated air mobility company, engages in building an electric vertical takeoff and landing aircraft optimized to deliver air transportation as a service. The company intends to build an aerial ridesharing service, as well as developing an application-based platform that will enable consumers to book rides.